RLinda ! EURUSD-> Consolidation. What to expect from the price?

22 בפבר׳ 2023

EURUSD faces strong support and at the same time the preconditions for the formation of a wedge - a pattern that can reverse the local trend

Based on the price movement, volatility and moving averages, I can suggest that the price is in a strong consolidation phase and apparently the market is waiting for a kick in the form of fundamental factors, which will help the price to break out of this range.

I expect a rebound from the limit support level and a breakout of the descending wedge resistance. Short-term target is the liquidity area at 1.07662, medium-term target is the resistance at 1.09368.

Regards R.Linda!